AsemconnectVietnam - Tan Cang Logistics & Stevedoring Joint Stock Company (stock code TCL) has successfully held the Annual General Meeting of Shareholders in 2023.

The meeting approved the business plan for 2023 with a target of 5% growth in both revenue and profit compared to last year's performance.
Specifically, the Company sets a target of total revenue in 2023 to reach VND1,409 billion, up 5.03% compared to the result of VND1,341 billion achieved last year. Total pre-tax profit reached VND159 billion, up 5.02% compared to VND152 billion last year.
Total profit after tax reached VND130.7 billion, up 5.05% compared to VND124.5 billion last year.
Regarding the investment plan in 2023, the company is expected to spend more than VND84 billion, of which capital construction investment is VND74.8 billion. TCL said, it will invest in a warehouse and technical infrastructure around the warehouse worth VND30 billion, invest in the TCL-Long Binh Depot project worth VND30 billion, invest in a dedicated container yard worth VND14.8 billion. This year the company also plans to spend VND4.9 billion to purchase technology equipment.
Regarding the dividend payment in 2022, TCL said that the plan to split the dividend rate is 21% but the implementation rate is 22.31%. The deadline for closing the list of shareholders to pay dividends in 2022 is August 15, 2023. Expected time of dividend payment is before October 31, 2023.
In 2023, the company plans to pay dividends at the rate of 22.71%, the total amount for dividend is expected to be VND68.5 billion.
Shareholders ask for a dividend of 30% or more
At the General Meeting of Shareholders, sharing about TCL's strengths compared to other companies in the market, the company's leaders said that TCL is a member unit of Saigon Newport Corporation Limited (51%) capital of State-owned enterprises), is a military unit, so TCL has the strength to strictly comply with the regulations of the State and the Army as the basis for sustainable development.
TCL was established in 2006, has nearly 20 years of development with a prestigious brand name and high experience. About products and services of Depot mining company, Tan Cang Nhon Trach ICD exploitation, chemical cargo and pile-up service. By the end of 2022 and early 2023, the Company has welcomed empty containers of some shipping lines into operation. With the service of packing and unpacking rice containers, TCL is the largest unpacking unit in the South with an output of 70,000-80,000 containers/year.
Answering a question from shareholders about the further development plan of phase 2 of ICD Tan Cang Nhon Trach, the company's leaders said that they had received land at the Tan Cang Nhon Trach ICD area in mid-2022 and had built a yard to put empty container in. According to regulations, ICD Tan Cang Nhon Trach has 5 warehouses, including 3 warehouses with an area of 6,750 m2/warehouse, two warehouses with an area of 18,000 m2/warehouse, currently planning to build the first warehouse with an area of 6,750 m2, this process is slow compared to the plan, the 5-year strategy of TCL.
One of the reasons is that due to the prolonged Covid-19 epidemic and the extent of the impact of the Covid-19 epidemic on the Nhon Trach market, there are still factories and enterprises that have not operated at full capacity, so the investment is also behind schedule. The leadership will review the situation and fluctuations of the market to take appropriate steps.
Answer the question whether the development land fund of Tan Cang Long Binh ICD has been available? TCL leaders said that now there is a land fund of 12 hectares to develop Tan Cang Long Binh ICD. The company is preparing a feasibility study report and taking next steps. If deployed in 2023, this will be TCL's long-term investment point. With the remaining land lease period of about 40 years, TCL will have Tan Cang Long Binh ICD to take the lead in depot mining services.
Share about the question of shareholders when TCL's profit margin from 7%-20% is quite modest compared to other companies in the same industry, what strategy does the company have to improve? TCL's leaders said that currently, the main service segment of TCL is mainly exploiting infrastructure, other units they have land fund, so the profit rate will be higher. TCL needs a process to pull the margin up. Currently, the infrastructure at Depot Tan Cang My Thuy 1, Depot Tan Cang My Thuy 2, Depot 6, and Ben 125 are leased by the company. ICD Tan Cang Nhon Trach is gradually investing, allocating initial costs, ensuring profits.
Shareholders recommend a dividend of 30% or more, TCL leaders said that since its establishment, the infrastructure is mostly rented, the rental cost is high, the profit margin is only from about 10%. . Through the investment process TCL has acquired Tan Cang Nhon Trach ICD, with the attention of developing Ring Road 3, when completed after 2025, this is a good location very close to Ho Chi Minh City. If well exploited will increase profit margin and if investment develops well, dividend payment from 2028-2030 may increase. In order to do this, there must be a development investment fund. If paying high dividends, reducing the rate of deduction for development investment funds, the production and business results and dividends in the following years will not be maintained and cannot be increased.
Regarding business results in the first quarter of 2023, TCL achieved revenue of VND357 billion, profit after tax of VND30 billion, up 20% and 25.7% respectively compared to the results of the first quarter of 2022.
With this result, the company has completed more than 25% of the annual revenue plan and more than 23% of the year profit plan.
N.Nga
Source: VITIC/Tinnhanhchungkhoan